Beverage packaging industry Archives - Business Intelligence

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smart packaging

Smart Packaging: The Next Big Thing in the Pharma Industry

The growth in the global pharmaceutical industry will be driven by safety concerns and the ability of products to fit in the loop of connectivity and communication. Smart labels, QR scanning, brand protection, and identification are some of the aspects that indicate that smart packaging industry needs to evolve constantly to serve all product-shipping business verticals, including pharmaceuticals.

One of the key challenges faced by pharma companies today involves the increasing cost of bringing new formulas into the market. In the case of generic medicines, competition is becoming fierce. Furthermore, companies in the sector are increasingly experiencing pharmaceutical logistics challenges such as shortcoming relating to drug expiry date management, counterfeiting issues that jeopardize quality of care, and product degradation and recalls. A lot of effort is being put in by players in the sector to re-design pharma value chain and turning these roadblocks in opportunities. Among the several advanced techniques used by pharma companies for enhancing performance, smart packaging has been a breakthrough. Smart packaging is an advanced packaging system that can monitor changes in a product or its environment and help pharma companies to act upon these changes. Sensor-equipped smart packaging in the pharma industry can help track a product along the supply chain to the end-user.

There is no doubt these are exciting times in the pharmaceutical industry with advanced techniques such as smart packaging underway. But is your business prepared to accommodate these trends? Request a free proposal to know how our experts can help you best prepare for the changing market trends.

Benefits of smart packaging in the pharma industry

smart packagingTemperature control

If medicines are not stored at the right temperature, it can not only lead to product damage but can also prove to be dangerous for consumption. With smart packaging solutions for the pharmaceutical industry, it is now possible to create labels informing about a product’s temperature during the shipping process and storage. This helps doctors, pharmacists or patients to determine whether the drugs are safe to take or not.

Adhering to medication

Smart packaging for pharma products is a great way of reminding patients about adhering to the prescription. NFC tags used in smart packaging provide patients with enough information so that they know they are using the drug as intended. The information is often delivered in an interactive way on the patient’s smartphones, for instance via video.

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Stock control

Smart packaging will be beneficial for pharma companies to keep tabs on their stock and manage their inventory levels better. The sensors in smart packaging allows companies to check the stock level available with them and adjust the production and supply accordingly to prevent situations of understocking or overstocking.

Enhances clinical trials

Smart packaging solutions for clinical trials are largely focused on patient compliance and engagement. Sometimes, during a clinical trial, enrolled patients typically need to maintain records that document their drug administration. Many don’t take the time to do that real-time and, as a result, their data is subject to error. Smart packaging aims to avoid such errors by notifying the patients to take the medicine on time and recording the exact time that the medicine was consumed.

Learn more about Infiniti’s solutions for companies in the pharma industry

US packaging industry

Using Smart Packaging to Tackle Business Challenges – How the Market Leaders Are Doing it

Smart packaging is still evolving, but we cannot completely ignore its importance. Agile businesses are looking at packaging as a possible holistic solution to transform the way they deliver, sell, and use products. Innovative smart packaging applications are being embraced by market leaders across industries who are trying to leverage the benefits of smart packaging solutions to enhance their operations and at the same time provide an unparalleled customer experience. In this blog, experts at Infiniti explore how top companies are using smart packaging to overcome some key business issues.

Our analysis of the packaging space suggests that the different applications are arriving in waves. Is your business prepared for such transformations? Request a free proposal to know how we can help you stay updated with the latest trends and innovations in your industry.

How businesses can benefit from smart packaging

smart packagingInventory and lifecycle management

Smart packaging can provide solutions to common supply chain challenges including sourcing raw materials from suppliers, managing the supply chain, and delivering products to the final customer. With smart packaging solutions, companies can gain real-time ability to track and trace the exact product location in the production and distribution cycle. It also offers benefits including agility, quality and safety, and sustainability.

Protection against internal and external threats

Packaging of a product often acts as a valuable layer of defense against both internal and external threats affecting the product integrity. In the food retail industry alone close to 30% of food products are known to be discarded due to spoilage. Smart packaging can help avoid such counterfeits and combat excessive losses for companies. By using advanced technologies such as blockchain, brands can create a secure, unalterable record of a product’s origin as well as the path to market.

Smart packaging offers significant opportunities and a real risk of disruption. Get in touch with our experts to know more about our solutions for more insights on what your business needs to know before implementing smart packaging solutions.

Enhance user experience

Using packaging, brands can enhance user satisfaction by making the use of the product more engaging, efficient, or informative, as well as by providing valuable consumer insights to brand owners and retailers. Companies can earn greater brand loyalty by using innovations in smart packaging to lure more customers. For instance, some brands are even using technologies such as AR-based apps to transform the customer experience through packaging.

Learn more about how Infiniti’s solutions can help your business

Beverage packaging market

Enhancing ROI by 19% for a Beverage Packaging Company – Market Trend Analysis Engagement

Beverage Packaging Market Analysis

The global packaging industry is constantly evolving. The rapid pace of change has not only brought about exciting opportunities but has also put immense pressure on companies in the beverage packaging market to evolve and adapt. To sustain a leading edge in the marketplace, it has become imperative for beverage packaging companies to keep abreast with the trends and innovations in the market. This is where market trend analysis comes into play. Trend analysis helps companies to not only identify the latest trends but also to stay ahead of them.

Beverage Packaging Market

Interested to know the latest trends and innovations in the beverage packaging market? Our trend analysis solution can help. Request a FREE proposal today!

Business Challenge

The client is a well-known beverage packaging company based out of Central Europe. With the changing dynamics of the current marketplace, the client was struggling to understand and act on trends that impact their business. Also, the client noted an unexpected drop in their sales rate due to their inability to identify and adapt to the latest market changes.

The client, therefore, approached Infiniti Research to leverage their expertise in offering trend analysis solution. With Infiniti’s trend analysis solution, the packaging company wanted to identify trends in terms of product innovation, competitor product features, new operations, and delivery models.

Beverage packaging market challenge 1: Changes in consumer needs and behavior

With consumers’ needs and requirements constantly changing, the client wanted to identify a specific trend in changing customer need and behavior to devise strategies to meet their current and potential demands.

Beverage packaging market challenge 2: Shifts in consumer perception of value

As customers are flooded with multiple choices in packaging, timely analysis of consumer needs is becoming important. Therefore, with Infiniti’s trend analysis solution, the client wanted to understand shifts in consumer perception of value to alter their business strategies accordingly.

Beverage packaging market challenge 3: Changing trends in industry cost drivers

Today’s ever-changing beverage packaging market demands businesses to be aware of changes in the composition of the cost drivers and also innovations that lead to lower-cost alternatives. Therefore, the client wanted to identify better packaging alternatives, which offer additional value and drive sales.

Beverage packaging market challenge 4: Evolving beverage packaging market landscape

The packaging industry client also wanted to analyze trends in terms of product innovations, competitor product features, and new operation and delivery models to stay ahead of their competitors.

Request a FREE proposal to know how our trend analysis solution will help you keep pace with market transformations and adapt to the requirements in today’s competitive marketplace.

Our Approach

Our experts conducted a market research study to help the client gather comprehensive insights into the trends and innovations in the European beverage packaging market. The experts also analyzed the current and past market behavior and dominant patterns of the European beverage packaging market. Also, the experts examined political, economic, social, technological, environmental, and legal implications of the beverage packaging market in Europe to identify the external factors that impacted the client’s business activities.

Results Obtained

Infiniti’s trend analysis helped the client to identify the current and future trends in the European beverage packaging industry. Based on the sales data obtained from trend analysis engagement, the client was able to understand factors that affected their stock’s value, irrespective of general market conditions. Furthermore, Infiniti’s trend analysis solution helped the company in the beverage packaging market to identify attractive investment opportunities that are currently showing an upward trend. The client also identified low-cost alternatives to attract more customers. With Infiniti’s trend analysis solution, the company also witnessed an increase in their sales rate. In addition, the company was able to enhance ROI by 19%.

Request for more information to gain more insights into our services for companies in the beverage packaging industry.

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